A Business at a Glance
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P2 Solar, Inc., a Delaware corporation (hereinafter referred to as “we”, “us”, the “Company”, “P2 Solar” or the “Registrant”) has been in existence as a Company (including its predecessor British Columbia Corporation) since 1990. As discussed more fully below, the Company’s current business operations are focused on the construction of residential and commercial rooftop and ground mount solar power plants in Canada. The Company was initially organized under the laws of British Columbia, Canada, on November 21, 1990, as Spectrum Trading Inc. The Company’s initial business plan was to import leather products from India and sell them in Canada. However, the supplier in India did not materialize and the Company remained dormant until 1997. In 1997, the Company began the chemical manufacturing business.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2014 |
|---|---|---|---|---|---|---|
| Revenue | 26K | 26K | 166K | 0 | 0 | - |
| Net Income | -34K | -34K | -148K | -178K | -120K | -424K |
| EPS | $-0.00 | $-0.00 | $-0.00 | $-0.00 | $-0.00 | $-0.01 |
| Free Cash Flow | -69K | -69K | -28K | -55K | -24K | -244K |
| ROIC | -79.5% | -79.5% | -79.2% | -82.6% | -320.9% | 21.1% |
| Gross Margin | 83.4% | 83.4% | 40.3% | - | - | - |
| Debt/Equity | 0.00 | -0.07 | -0.26 | -0.62 | -0.32 | 0.11 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -103K | -103K | -115K | -88K | -93K | 26K |
| Operating Margin | -391.7% | -391.7% | -69.1% | - | - | - |
| ROE | 0.0% | - | - | - | - | - |
| Shares Outstanding | 129M | 129M | 129M | 68M | 68M | 42M |
| Metric | 2011 | 2013 | 2014 | 2022 | 2023 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | N/A | N/A | N/A | 0 | 0 | 166K | 26K | 26K |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | 40.3% | 83.4% | 83.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | 4K | 2K | 42K | 19K | 19K |
| EBIT | -2.9M | -10K | 26K | -93K | -88K | -115K | -103K | -103K |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | -69.1% | -391.7% | -391.7% |
| Net Income | -2.9M | -195K | -424K | -120K | -178K | -148K | -34K | -34K |
| Net Margin | N/A | N/A | N/A | N/A | N/A | -89.3% | -130.7% | -130.7% |
| Non-Recurring | 2.5M | 4.3M | 7K | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | -123.9% | N/A | 21.1% | N/M | -82.6% | -79.2% | -79.5% | -79.5% |
| ROE | -161.7% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| ROA | -144.5% | N/A | -350.1% | -522.2% | -165.7% | -129.5% | -31.7% | -33.6% |
| Cash Flow | ||||||||
| Op. Cash Flow | -335K | -2K | -244K | -24K | -55K | -28K | -69K | -69K |
| Free Cash Flow | -335K | -2K | -244K | -24K | -55K | -28K | -69K | -69K |
| Owner Earnings | -441K | -2.3M | -368K | -24K | -55K | -28K | -69K | -69K |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 106K | 2.3M | 123K | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 49K | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||
| Net Debt | 50K | N/A | -74K | 521K | 1.0M | 472K | 72K | 72K |
| Cash & Equiv. | 3K | N/A | 5K | 8K | 8K | 0 | 0 | N/A |
| Long-Term Debt | 15K | N/A | N/A | 529K | N/A | N/A | N/A | 72K |
| Debt/Equity | 0.03 | N/A | 0.11 | -0.32 | -0.62 | -0.26 | -0.07 | 0.00 |
| Interest Coverage | -269.9 | -0.6 | 4.2 | -3.0 | -2.7 | -3.5 | -3.4 | -3.4 |
| Equity | 1.8M | N/A | -580K | -1.6M | -1.7M | -1.8M | -1.0M | -1.0M |
| Total Assets | 2.0M | N/A | 158K | 23K | 107K | 115K | 103K | 103K |
| Total Liabilities | 217K | N/A | 738K | 1.7M | 1.8M | 1.9M | 1.1M | 1.1M |
| Intangibles | N/A | N/A | N/A | N/A | 90K | 90K | 90K | 90K |
| Retained Earnings | N/A | N/A | N/A | -7.8M | -8.0M | -8.1M | -8.1M | -8.1M |
| Working Capital | 1.8M | N/A | -466K | -1.6M | -1.7M | -1.8M | -1.0M | -1.0M |
| Current Assets | 2.0M | N/A | 84K | 23K | 17K | 24K | 12K | 12K |
| Current Liabilities | 217K | N/A | 550K | 1.7M | 1.7M | 1.9M | 1.0M | 1.0M |
| Per Share Data | ||||||||
| EPS | -0.06 | 0.00 | -0.01 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Owner EPS | -0.01 | N/A | -0.01 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Book Value | 0.04 | N/A | -0.01 | -0.02 | -0.02 | -0.01 | -0.01 | -0.01 |
| Cash Flow/Share | -0.01 | N/A | -0.01 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Dividends/Share | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 49.0M | N/A | 42.4M | 67.9M | 67.9M | 128.6M | 128.6M | 128.6M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | 4.9 | 30.1 | 58.3 |
| FCF Yield | N/A | N/A | -9.6% | -1.8% | -7.3% | -3.1% | -2.7% | -4.5% |
| Market Cap | 0 | 0 | 2.5M | 1.4M | 754K | 881K | 2.6M | 1.5M |
| Avg. Price | 0.00 | 0.00 | 0.04 | 0.02 | 0.02 | 0.01 | 0.01 | 0.01 |
| Year-End Price | 0.00 | 0.00 | 0.04 | 0.02 | 0.01 | 0.01 | 0.02 | 0.01 |
P2 Solar, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 61.8%.
P2 Solar, Inc. (PTOS) has a 5-year average return on invested capital (ROIC) of -55.0%. This is below average and may indicate limited pricing power.
P2 Solar, Inc. (PTOS) has a market capitalization of $2M. It is classified as a small-cap stock.
P2 Solar, Inc. (PTOS) does not currently pay a regular dividend.
P2 Solar, Inc. (PTOS) operates in the Construction - Special Trade Contractors industry, within the Industrials sector.
P2 Solar, Inc. (PTOS) reported annual revenue of $26 thousand in its most recent fiscal year, based on SEC EDGAR filings.
P2 Solar, Inc. (PTOS) has a net profit margin of -130.7%. The company is currently unprofitable.
P2 Solar, Inc. (PTOS) generated $-69 thousand in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
P2 Solar, Inc. (PTOS) has a 5-year average gross margin of 61.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for P2 Solar, Inc. (PTOS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
P2 Solar, Inc. (PTOS) has a book value per share of $-0.01, based on its most recent annual SEC filing.